Herman Miller says it will pay Knoll shareholders $25.06 per share, representing a 45.4 per cent premium on Knoll’s closing price on Friday last week.
The company has taken a financial hit in the past year, as the pandemic saw offices close all over the world in an effort to curb the spread of Covid-19.
However, Herman Miller says it sees the coming years as an opportunity for growth, as companies seek to redefine what post-pandemic working setups should look like.
Knoll’s shares jumped 28.7 per cent to $22.17 in premarket trading, while Herman Miller’s fell by 13.1 per cent to $38.51.
Story source Reuters